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Genesis Minerals Limited
(Sydney:GMD)
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Rating:72Outperform
Price Target:
AU$7.50
â–¼(-13.49% Downside)
Action:Reiterated
Date:09/19/26
The score is driven primarily by strong financial performance (sharp profitability and cash flow improvement with low leverage). This is tempered by weaker near-term technicals (below the 20-day average with subdued momentum despite oversold readings) and a valuation that looks broadly fair (reasonable P/E but low dividend yield).
Positive Factors
Revenue and margin expansion
Rapid revenue growth alongside very strong gross, EBIT, and net margins indicates substantial operating improvement and stronger earnings capacity. If maintained, this combination can support reinvestment, resource development, and resilience across the next several quarters.
Negative Factors
Historical earnings volatility
The recent turnaround is not yet evidence of consistently stable earnings because the company experienced deep losses and substantial margin swings within the reported period. Such volatility can complicate planning, capital allocation, and the durability of future returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin expansion
Rapid revenue growth alongside very strong gross, EBIT, and net margins indicates substantial operating improvement and stronger earnings capacity. If maintained, this combination can support reinvestment, resource development, and resilience across the next several quarters.
Read all positive factors
Genesis Minerals Limited (GMD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$8.11B
Dividend Yield0.72%
Average Volume (3M)5.80M
Price to Earnings (P/E)13.1
Beta (1Y)1.78
Revenue Growth89.36%
EPS Growth165.30%
CountryAU
Employees799
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.52
Shares Outstanding1,175,089,400
10 Day Avg. Volume5,631,806
30 Day Avg. Volume5,797,065
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)2.76
Price to Sales (P/S)3.29
P/FCF Ratio8.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$8.74Price Target Upside0.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.52
Revenue Forecast (FY)AU$2.83B
Genesis Minerals Limited Business Overview & Revenue Model
Company Description
Founded in 2007 and headquartered in Perth, Australia, Genesis Minerals Limited specializes in the exploration and development of gold resources across Western Australia. The company's primary asset is its wholly-owned Leonora Gold Project, strate...
How the Company Makes Money
Genesis Minerals makes money primarily by producing and selling gold. Its core revenue stream is the sale of gold (typically as doré bars) produced from mining operations, with sales proceeds largely determined by production volumes and prevailing...
Genesis Minerals Limited Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 24, 2027
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial performance: record consecutive production, strong cash generation (AUD 231M mine operating cash flow; AUD 404M cash & investments), NPAT materially higher (estimated +300% YoY), debt fully repaid, and multiple development milestones (Tower Hill approvals, rail agreements, and Indigenous mining agreements). Offsetting items include higher near-term growth capital (revised to AUD 220-240M), ramp-up and grade pressure at Ulysses while development ore dominates, lower recoveries from third-party Laverton feed, contractor transition risk with Byrnecut mobilizing, and upcoming cash outflows for stamp duty and tax. Overall, the positive operational momentum, strong balance sheet and delivered milestones outweigh the execution and near-term capital/timing risks.Positive Updates
Record and Growing Production
Consecutive quarter of record gold production at ~74,000 ounces in the December quarter; first half production of just over 147,000 ounces, positioning the company to meet FY '26 guidance of 260,000-290,000 ounces.
Negative Updates
Increased Growth Capital Requirement
Full year growth capital outlook revised up to AUD 220-240 million (from AUD 150-170 million) as capital for Tower Hill has been brought forward into FY '26 — higher near-term cash outflow and capital intensity despite strong cash position.
Read all updates
Q2-2026 Updates
Positive
Negative
Record and Growing Production
Consecutive quarter of record gold production at ~74,000 ounces in the December quarter; first half production of just over 147,000 ounces, positioning the company to meet FY '26 guidance of 260,000-290,000 ounces.
Read all positive updates
Company Guidance
Genesis maintained FY‑26 production guidance of 260,000–290,000 oz and AISC guidance of A$2,500–2,700/oz (at the half‑way mark it has produced just over 147,000 oz YTD at AISC A$2,578/oz), with the December quarter delivering ~74,000 oz at AISC A$2,635/oz; the quarter sold 71,000 oz at A$6,057/oz generating A$430m in sales, A$231m mine operating cash flow and A$167m net mine cash flow after A$64m of growth spend. Cash and investments rose to A$404m (underlying cash build >A$200m) with nil bank debt after fully repaying A$100m corporate debt, growth capital for FY‑26 was revised up to A$220–240m (from A$150–170m), and group stockpiles closed at 1.4Mt @1.2 g/t (≈53,000 oz). Operational metrics included Leonora UG 289,000 t @4.6 g/t (42,783 oz), Gwalia ~178,000 t @5.6 g/t (~32,000 oz), Ulysses 111,000 t @2.9 g/t (10,500 oz), Leonora mill 365,000 t @4.0 g/t at 92.8% recovery (~43,000 oz), Laverton mill 759,000 t @1.5 g/t at 83.8% recovery (~31,000 oz) (38% third‑party feed at 79.2% recovery; Genesis ore recovery 91.2%), total open‑pit movement >6Mt and Laverton movement 3.5Mt, Jupiter mined 133,000 t @0.7 g/t (~3,000 oz), exploration spend A$11.9m, estimated H1 NPAT A$235–245m, stamp duty A$13m due in June, and likely commencement of income tax installments—Tower Hill remains on track (original FY‑28 first ore timing may be able to be brought forward) while mill expansion studies and the ASPIRE 400 long‑term sizing are being finalised.Genesis Minerals Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.74B | 920.14M | 438.59M | 76.96M | 0.00 |
| Gross Profit | 797.38M | 504.04M | 91.85M | -14.10M | -76.23K |
| EBITDA | 956.66M | 466.50M | 122.84M | -91.61M | -46.28M |
| Net Income | 601.76M | 221.17M | 84.00M | -111.77M | -46.35M |
Balance Sheet | |||||
| Total Assets | 2.89B | 1.80B | 1.21B | 1.02B | 38.74M |
| Cash, Cash Equivalents and Short-Term Investments | 488.33M | 239.53M | 171.29M | 181.54M | 16.12M |
| Total Debt | 302.84M | 200.89M | 45.20M | 11.35M | 0.00 |
| Total Liabilities | 815.30M | 544.39M | 217.65M | 164.67M | 10.10M |
| Stockholders Equity | 2.08B | 1.25B | 991.38M | 838.24M | 28.64M |
Cash Flow | |||||
| Free Cash Flow | 658.82M | 237.65M | -28.31M | -52.90M | -17.91M |
| Operating Cash Flow | 935.25M | 420.70M | 136.24M | -37.58M | -16.84M |
| Investing Cash Flow | -761.82M | -442.69M | -177.06M | -360.30M | -1.07M |
| Financing Cash Flow | 75.37M | 90.23M | 30.57M | 563.30M | 23.07M |
Genesis Minerals Limited Technical Analysis
Negative
8.67
Price Trends
7.58
Negative
6.73
Negative
6.66
Positive
Market Momentum
-0.14
Positive
35.99
Neutral
14.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GMD, the sentiment is Negative. The current price of 8.67 is above the 20-day moving average (MA) of 7.16, above the 50-day MA of 7.58, and above the 200-day MA of 6.66, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 35.99 is Neutral, neither overbought nor oversold. The STOCH value of 14.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:GMD.
Genesis Minerals Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | AU$7.85B | 12.85 | 18.90% | 2.36% | 12.65% | 11.08% | |
78 Outperform | AU$5.20B | 6.95 | 35.03% | 2.87% | 42.59% | 180.54% | |
78 Outperform | AU$6.35B | 21.78 | 20.93% | 0.72% | 44.67% | 70.20% | |
77 Outperform | AU$6.72B | 57.27 | 3.01% | 1.68% | -14.16% | -84.78% | |
73 Outperform | AU$4.67B | 11.16 | 19.72% | 1.97% | 79.44% | 1173.17% | |
72 Outperform | AU$8.11B | 13.06 | 33.52% | 0.72% | 89.36% | 165.30% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:GMD
Genesis Minerals Limited
6.68
0.70
11.67%
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5.78
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24.14%
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Regis Resources Limited
6.38
0.39
6.58%
AU:RMS
Ramelius Resources Limited
3.53
0.06
1.85%
AU:WGX
Westgold Resources
5.16
>-0.01
-0.12%
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Capricorn Metals Ltd
13.45
0.54
4.17%
Genesis Minerals Limited Corporate Events
Genesis Minerals boosts cash, advances growth as Vault merger sets up global gold major
Oct 21, 2026
Genesis Minerals reported a solid start to FY27, with quarterly gold production of 72,107 ounces at an all-in sustaining cost of A$2,966 per ounce and gold sales of 71,594 ounces generating A$422.5 million in revenue. Cash and equivalents rose by ...
Genesis Minerals Seeks ASX Quotation for Additional Ordinary Shares
Oct 20, 2026
Genesis Minerals Limited has applied for quotation on the ASX of 37,430 ordinary fully paid shares, reflecting the issue of new equity under the exchange’s Appendix 2A process. The newly quoted securities, issued on October 20, 2026, margina...
Vault Minerals Dispatches Scheme Booklet Ahead of Genesis Merger Vote
Oct 14, 2026
Vault Minerals has completed the distribution of its Scheme Booklet to shareholders as part of the proposed merger under which Genesis Minerals will acquire all Vault shares via a scheme of arrangement. Shareholders have received the materials eit...
Mitsubishi UFJ exits substantial holder status in Genesis Minerals amid institutional reshuffle
Oct 13, 2026
Mitsubishi UFJ Financial Group Inc. has filed a Form 605 notice stating it has ceased to be a substantial holder in Genesis Minerals Limited, in line with Australia’s Corporations Act section 671B governing disclosure of major shareholdings....
First Sentier Group Exits Substantial Holder Status in Genesis Minerals
Oct 9, 2026
First Sentier Group Limited and a wide network of related entities have formally lodged a notice that they have ceased to be substantial holders in Genesis Minerals Limited as of 7 October 2026. The change, recorded under Australia’s Corpora...
Genesis Minerals Sets November 2026 AGM to Consider Remuneration Report
Oct 9, 2026
Genesis Minerals Limited has scheduled its annual general meeting for 12 November 2026 at the Parmelia Hilton in Perth, with eligibility to vote determined for shareholders registered as of 10 November 2026. The meeting will receive the company...
Genesis Minerals Seeks ASX Quotation for Additional Ordinary Shares
Oct 8, 2026
Genesis Minerals Limited has applied to the ASX for quotation of 40,385 additional ordinary fully paid shares under its ticker GMD. The new securities, issued on 7 October 2026 following the exercise or conversion of existing instruments, modestly...
Genesis Minerals cancels 27,000 lapsed performance rights
Oct 8, 2026
Genesis Minerals Limited has notified the market of changes to its issued capital following the lapse of certain performance-based securities. The company reported that 27,000 performance rights, previously on issue under the ASX code GMDAAE, have...
Vault Minerals Registers Scheme Booklet for Genesis Merger Vote
Oct 6, 2026
Vault Minerals has taken a key step in its proposed merger with Genesis Minerals, confirming that its scheme booklet has been registered by the Australian Securities and Investments Commission and made available to shareholders. The document outli...
Genesis Minerals Seeks ASX Quotation for Additional Ordinary Shares
Oct 6, 2026
Genesis Minerals Limited has applied for quotation of an additional 18,961 ordinary fully paid shares on the ASX, following the issue of these securities on 28 September 2026. The new shares arise from the exercise or conversion of existing option...
Court clears next steps in Genesis’ takeover of Vault Minerals
Oct 5, 2026
Vault Minerals has secured approval from the Supreme Court of Western Australia to convene a shareholder meeting and dispatch a scheme booklet for its proposed merger with Genesis Minerals. The booklet, including an independent expert’s repo...
Mitsubishi UFJ Drops Below Substantial Holder Threshold in Genesis Minerals
Oct 1, 2026
Mitsubishi UFJ Financial Group, Inc. has filed a notice that it has ceased to be a substantial holder in Genesis Minerals Limited, signaling a reduction of its voting interest below the regulatory disclosure threshold. The change follows a series ...
Major institutional investor group ceases substantial holding in Genesis Minerals
Sep 30, 2026
Mitsubishi UFJ Financial Group and the associated First Sentier Investors entities have lodged a Form 605 notice advising they have ceased to be substantial holders in Genesis Minerals Limited as of 28 September 2026. The change, detailed in an an...
Genesis Minerals Seeks ASX Quotation for Additional Ordinary Shares
Sep 25, 2026
Genesis Minerals Limited has applied to the ASX for quotation of 45,310 ordinary fully paid shares, with an issue date of 25 September 2026. The new securities arise from the exercise or conversion of existing options or other convertible instrume...
JPMorgan Group Drops Below Substantial Holder Threshold in Genesis Minerals
Sep 17, 2026
Global banking group JPMorgan Chase Co. and its affiliates have notified Genesis Minerals that they have ceased to be a substantial holder in the company as of 15 September 2026. The change follows a series of transactions and securities lending ...
Genesis Minerals Sets AGM Date and Deadline for Director Nominations
Sep 17, 2026
Genesis Minerals has scheduled its 2026 Annual General Meeting for 12 November 2026, in line with ASX Listing Rule requirements, with further details on the agenda and shareholder participation to be provided in a forthcoming notice. The company h...
Genesis Minerals Seeks ASX Quotation for New Share Issuance
Sep 8, 2026
Genesis Minerals Limited has applied to the ASX for quotation of 103,425 new ordinary fully paid shares. The securities, issued on September 8, 2026, will expand the company’s free float and marginally increase its equity base.The additional...
Mitsubishi UFJ Exits Substantial Holder Role in Genesis Minerals
Sep 8, 2026
Mitsubishi UFJ Financial Group, Inc. has lodged a Form 605 notice stating it has ceased to be a substantial holder in Genesis Minerals Limited. The change follows a series of transactions involving purchases of fully paid ordinary shares in Genesi...
First Sentier Group exits substantial holder position in Genesis Minerals
Sep 7, 2026
Genesis Minerals has received a formal notice under Form 605 that First Sentier Group Limited and its extensive network of related bodies corporate have ceased to be a substantial holder in the company as of 3 September 2026. The filing, signed by...
Genesis Minerals Seeks ASX Quotation for New Employee Incentive Shares
Sep 7, 2026
Genesis Minerals Limited has applied to the ASX for quotation of an additional 91,260 ordinary fully paid shares, to be issued on 7 September 2026. The new securities arise under an employee incentive scheme and will be quoted despite not being su...
Genesis Minerals Lists Additional Shares Following Option Conversions
Sep 3, 2026
Genesis Minerals Limited has applied to the ASX for quotation of 286,229 new fully paid ordinary shares under the code GMD. The issuance, dated 3 September 2026, results from the exercise or conversion of existing options or other convertible secu...
Genesis Chair trims stake while backing merger-driven growth
Sep 3, 2026
Genesis Minerals has disclosed that Executive Chair Raleigh Finlayson sold five million shares at an average price of A$8.31, representing less than 15 per cent of his total holding. Despite the sale, Finlayson retains a substantial stake and has ...
Genesis Minerals Reports Lapse of 5,000 Performance Rights
Sep 2, 2026
Genesis Minerals Limited has notified the market of the lapse of 5,000 performance rights, citing that the conditions attached to these rights were not met or can no longer be satisfied. The cessation, effective 2 September 2026, modestly reduces ...
JPMorgan Exits Substantial Shareholder Position in Genesis Minerals
Sep 1, 2026
JPMorgan Chase Co. and its affiliates have ceased to be substantial shareholders in Genesis Minerals Limited, after a series of transactions involving securities lending, investment management, proprietary trading, and prime brokerage activities....
Genesis Minerals Adds New Shares to ASX Quotation
Aug 31, 2026
Genesis Minerals Limited has applied for quotation of an additional 925,654 ordinary fully paid shares on the Australian Securities Exchange, with an issue date of August 31, 2026. The modest increase in quoted securities slightly expands the comp...
Genesis Minerals Issues Over 3 Million Unquoted Performance Rights Under Incentive Scheme
Aug 28, 2026
Genesis Minerals Limited has issued 3,063,700 unquoted performance rights under its employee incentive scheme, with the securities designated under the ASX code GMDAAE. These performance rights are subject to transfer restrictions and will not be ...
JPMorgan Group Ceases to Be Substantial Holder in Genesis Minerals
Aug 23, 2026
JPMorgan Chase Co. and a range of its global affiliates have disclosed that they have ceased to be a substantial holder in Genesis Minerals Limited as of 19 August 2026, following a series of transactions and securities lending activities involvi...
Genesis Minerals Details ASX Governance Compliance for 2026
Aug 20, 2026
Genesis Minerals Limited has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX, directing investors to its website for full details. The statement is current as of 20 August 2026 and has been approved by the bo...
Genesis Minerals Declares AUD 0.05 Dividend for FY2026
Aug 20, 2026
Genesis Minerals Limited, an ASX-listed minerals exploration and development company trading under the code GMD, operates in the Australian mining sector and seeks to deliver returns to investors through the development of its resource portfolio. ...
Genesis Minerals Details 2026 Corporate Governance Framework
Aug 20, 2026
Genesis Minerals has released its Corporate Governance Statement for the year ended 30 June 2026, detailing how its board and management comply with the ASX Corporate Governance Council’s latest principles and recommendations. The document f...
Genesis Minerals Details Operations and Strategy in 2026 Annual Report
Aug 20, 2026
Genesis Minerals has released its 2026 Annual Report, outlining vision and values, key highlights for the year, strategic outlook, governance, and detailed information on its Leonora and Laverton operations, development projects, and exploration p...
Genesis Minerals posts record profit and cash, unveils dividend and Vault merger plan
Aug 20, 2026
Genesis Minerals has reported record FY26 results, underscoring a step-change in scale and profitability for the Western Australian gold miner. Revenue surged 89% to A$1.74 billion, EBITDA more than doubled to A$952.4 million and underlying NPAT j...
Genesis Minerals Doubles Profit and Moves on Major Gold Sector Mergers
Aug 20, 2026
Genesis Minerals Limited reported a strong financial performance for the year ended 30 June 2026, with revenue from ordinary activities rising 89 per cent to A$1.74 billion and net profit attributable to members surging 172 per cent to A$601.8 mil...
Genesis Minerals Lists Additional Shares on ASX Following Option Conversions
Aug 14, 2026
Genesis Minerals Limited has lodged a new application with the ASX for the quotation of additional ordinary fully paid shares under its GMD ticker. The filing relates to the issuance of 232,077 new securities, which are scheduled to be quoted from...
Genesis Minerals Expands ASX-Quoted Share Base With New Equity Issue
Jul 30, 2026
Genesis Minerals Limited has applied for quotation on the ASX of 1,520,840 new ordinary fully paid shares under its GMD ticker, reflecting the conversion of options or other convertible securities into tradable equity. The move slightly expands th...
Genesis Minerals expands ASX-quoted share base with new issuance
Jul 29, 2026
Genesis Minerals Limited has applied for quotation on the ASX of 949,540 new ordinary fully paid shares, to be issued on July 29, 2026. The additional securities, arising from the exercise or conversion of existing instruments, modestly expand the...
Genesis Minerals Updates Director Equity Holdings Under Fee Sacrifice Scheme
Jul 29, 2026
Genesis Minerals has reported a change in director Anthony Kiernan’s interests following his participation in the company’s Non-Executive Director Fee Sacrifice Scheme. Under the arrangement, Kiernan received fully paid ordinary shares...
Genesis Minerals Lists Additional Shares Following Option Conversions
Jul 28, 2026
Genesis Minerals Limited has applied for the quotation of an additional 487,765 ordinary fully paid shares on the ASX, expanding its listed securities under the code GMD. The new shares, issued on 28 July 2026, arise from the exercise or conversio...
Genesis Minerals posts record year, accelerates growth with A$12.6bn Vault merger
Jul 27, 2026
Genesis Minerals closed the June 2026 quarter with strong operational and financial performance, reporting quarterly output of 70,766 ounces and record FY26 production of 285,402 ounces at all‑in sustaining costs within guidance. Robust gold...
Genesis Minerals Issues Unquoted Share Rights Under Employee Incentive Scheme
Jul 24, 2026
Genesis Minerals Limited has notified the market of the issue of 28,805 unquoted share rights under its employee incentive scheme, with the securities recorded as being issued on July 24, 2026. The new rights are not intended to be quoted on the A...
Genesis Minerals Reports Lapse of 95,939 Performance Rights
Jul 24, 2026
Genesis Minerals Limited has notified the market of changes to its capital structure following the lapse of certain performance rights. The company reported that 95,939 GMDAAE performance rights ceased after the conditions attached to these rights...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.